BICO has reached a beneficial and sustainable solution with Organovo
February 23, 2022 1:30 pmWe are glad to announce that we have reached a settlement with Organovo in which we agreed to resolve all aspects of the disputes between the parties. Organovo and BICO were engaged in several legal disputes regarding Organovo’s patents. Under the new agreement, all civil actions regarding potential infringements and IPRs concerning validity of Organovo’s patents are dismissed and/or terminated. Both BICO and Organovo have released each other from all previous claims, demands, liabilities and costs in favor of finding a beneficial and sustainable solution created through this patent license agreement.
The patent license agreement with Organovo provide BICO with possibilities to access Organovo’s bioprinting technologies, which will further empower us to continue to advance and expand our product portfolio. Our offering will become even stronger by accessing these technologies and BICO, through our group company CELLINK, will have the freedom to operate globally with the strongest and most extensive bioprinting portfolio on the market.
“This will further enable an even more innovative and ground-breaking commercial agenda, speed up development for our customers, and enhance our market position; resulting in improved profitability in the long run. Onwards we will focus on strategic sales efforts to gain market share as well as our ambitious agenda for launching new instruments,” says Erik Gatenholm, CEO and President, BICO.
The total annual revenue covered by the license agreement is expected to, as previously communicated via press release on January 11, 2022, amount to approximately 1-2 percent of the Group's estimated revenues in 2022 and therefore is deemed as non-material for the Group.
At BICO, our priority is to enable organ and tissue printing using the latest and greatest technologies and products, offered to leading institutions and companies around the world. With more than 25,000 instruments in the field, our agenda is to make a global impact over the coming decades and revolutionize four main industrial ecosystems to enable sustainable manufacturing of human tissues and medical treatments.
For further information on this matter, please see the press release published on January 11, 2022.
For further information, please contact:
Gusten Danielsson, EVP and CFO BICO
Phone (US): +1 (857) 332 2138
Phone (Sweden): +46 70 991 86 04
Email: gd@bico.com
Lotta Bus, General Counsel BICO
Phone (Sweden): +46 70 611 75 08
Email: lb@bico.com
This information was submitted for publication, through the agency of the contact persons set out above, on February 23, 2022, at 13:30 (CET).
About BICO
Founded in 2016, BICO (formerly CELLINK) is the leading bio convergence company in the world. By combining different technologies, such as robotics, artificial intelligence, computer science, and 3D bioprinting with biology, we enable our customers to improve people's health and lives for the better.
The company has a focus on developing technologies that will advance Health 4.0 Next Generation Core Industry Ecosystems that enable tissue engineering, diagnostics, multiomics, and cell line development. BICO’s technologies enable researchers in the life sciences to culture cells in 3D, perform high-throughput drug screening and print human tissues and organs for the medical, pharmaceutical, and cosmetic industries. We create the future of health.
The Group’s instruments in the field amounts to 25,000, including all the top 20 pharmaceutical companies, are being used in more than 65 countries, and have been cited in more than 10,000 publications. BICO is listed on Nasdaq Stockholm under BICO. www.bico.com
